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For drivers on the low-end of that range, they could deduct $53,600 in mileage for 2024, versus $52,400 in 2023, decreasing their tax liability and potentially putting money in their pocket.
The IRS bumped up the optional mileage rate to 67 cents a mile in 2024 for business use, up from 65.5 cents for 2023. The new rate kicks in beginning Jan. 1 and it would apply to 2024 tax returns ...
The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...
Here are the 2024 mileage reimbursement rates: Business mileage rate: 67 cents per mile. This mileage rate for business increased by 1.5 cent from 65.5 cents per mile in 2023. ... Check into state ...
The law authorizes the Oregon Department of Transportation (ODOT) to set up a mileage collection system for 5,000 volunteer motorists beginning July 1, 2015. [18] ODOT may assess a charge of 1.5 cents per mile for up to 5,000 volunteer cars and light commercial vehicles and issue a gas tax refund to those participants.
Louisiana Highway 66 (LA 66) is a state highway located in southeastern Louisiana. It runs 19.62 miles (31.58 km) in a general east–west direction from the main entrance of the Louisiana State Penitentiary at Angola to a junction with U.S. Highway 61 (US 61) north of St. Francisville .
Louisiana's GOP-dominated House of Representatives on Tuesday overwhelmingly passed individual and corporate tax cuts, along with a constitutional amendment — all key provisions in Gov. Jeff ...
Louisiana Highway 10 (LA 10) is a state highway located in southern Louisiana. It runs 255.51 miles (411.20 km) in an east–west direction from U.S. Highway 171 (US 171) south of Leesville to the Mississippi state line east of Bogalusa .